SPX Gestao de Recursos Ltda Buys 3,420 Shares of Meta Platforms, Inc. (NASDAQ:META)

SPX Gestao de Recursos Ltda raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 33.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,500 shares of the social networking company’s stock after acquiring an additional 3,420 shares during the quarter. Meta Platforms makes up about 1.0% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 21st biggest position. SPX Gestao de Recursos Ltda’s holdings in Meta Platforms were worth $7,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of META. BlueSky Wealth Advisors LLC purchased a new position in Meta Platforms in the 2nd quarter worth $857,000. ERn Financial LLC raised its stake in shares of Meta Platforms by 11.3% during the 2nd quarter. ERn Financial LLC now owns 1,839 shares of the social networking company’s stock valued at $927,000 after buying an additional 187 shares during the last quarter. Mcdonald Partners LLC raised its stake in shares of Meta Platforms by 0.8% during the 2nd quarter. Mcdonald Partners LLC now owns 5,903 shares of the social networking company’s stock valued at $2,977,000 after buying an additional 44 shares during the last quarter. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Finally, Narus Financial Partners LLC raised its stake in shares of Meta Platforms by 1.0% during the 2nd quarter. Narus Financial Partners LLC now owns 3,249 shares of the social networking company’s stock valued at $1,638,000 after buying an additional 32 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold 214,002 shares of company stock worth $126,740,653 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 1.2 %

Shares of META stock traded down $7.44 during mid-day trading on Friday, reaching $623.35. The company’s stock had a trading volume of 1,899,384 shares, compared to its average volume of 14,713,942. The company’s 50 day simple moving average is $583.48 and its 200-day simple moving average is $536.44. Meta Platforms, Inc. has a 12-month low of $328.64 and a 12-month high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.57 trillion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on META shares. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler raised their target price on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein raised their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $635.20.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.